This has become one of the most important documents in the letting process. It is equally as valuable to the landlord as it is to the tenant. Before your tenant moves in, a detailed inventory and schedule of condition for the property must be taken. We recommended that this is done as soon as possible after the property has been professionally cleaned. Grants Property Management can arrange an inventory to be done by an independent inventory clerk.
Both landlord and tenant will get a copy of the inventory report. By signing the inventory, the tenant is agreeing with the state of the property and it’s contents.
The cost of the inventory is divided between the landlord and tenant on a 50/50 basis. At the end of the tenancy the inventory is used to check the condition of the property. Both landlord and tenant must agree on returning all or part of the security deposit. If an agreement can’t be reached the case will go to the independent arbitration process of the deposit scheme.